Evolus Inc (EOLS)
NASDAQ:EOLS
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Evolus
(NASDAQ:EOLS)
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Rating:45Neutral
Price Target:
$4.00
▼(-9.91% Downside)
Action:ReiteratedDate:03/31/26
The score is held down primarily by weak financial fundamentals (ongoing losses, negative cash flow, and negative equity with elevated debt) and bearish technical trends. This is partially offset by a constructive earnings outlook with 2026 profitability targets and continued revenue growth, but market/tariff/competition risks and the lack of positive earnings today limit the overall rating.
Positive Factors
Consistent double-digit revenue growth
Six consecutive years of double-digit top-line growth indicate durable demand expansion and successful commercialization of core products. Sustained revenue scale improves operating leverage potential, increases bargaining power with suppliers and distributors, and underpins management’s multi-year targets toward adjusted EBITDA profitability.
Negative Factors
Stressed balance sheet and negative equity
Negative equity and rising leverage constrain financial flexibility and increase refinancing and covenant risk. Reliance on debt magnifies the impact of operational setbacks, can raise borrowing costs, and may force dilutive financing or restrictive covenants that impair long-term strategic investments and margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent double-digit revenue growth
Six consecutive years of double-digit top-line growth indicate durable demand expansion and successful commercialization of core products. Sustained revenue scale improves operating leverage potential, increases bargaining power with suppliers and distributors, and underpins management’s multi-year targets toward adjusted EBITDA profitability.
Read all positive factors
Evolus (EOLS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$281.71M
Dividend YieldN/A
Average Volume (3M)1.38M
Price to Earnings (P/E)―
Beta (1Y)0.76
Revenue Growth15.10%
EPS Growth0.18%
CountryUS
Employees372
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.04
Shares Outstanding65,059,990
10 Day Avg. Volume673,729
30 Day Avg. Volume1,377,168
Financial Highlights & Ratios
PEG Ratio6.72
Price to Book (P/B)-18.55
Price to Sales (P/S)1.44
P/FCF Ratio-9.38
Enterprise Value/Market Cap1.38
Enterprise Value/Revenue1.31
Enterprise Value/Gross Profit2.02
Enterprise Value/Ebitda-14.11
Forecast
1Y Price Target
$14.50Price Target Upside226.58% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.15
Revenue Forecast (FY)$330.08M
Evolus Business Overview & Revenue Model
Company Description
Evolus, Inc., a performance beauty company, provides medical aesthetic products for physicians and their patients in the United States. It offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary i...
How the Company Makes Money
Evolus makes money primarily by selling Jeuveau to healthcare providers (e.g., dermatology, plastic surgery, and aesthetic medical practices) that purchase the product and administer it to patients for cash-pay aesthetic procedures. Revenue is gen...
Evolus Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 04, 2026
Earnings Call Sentiment Positive
The call presents a constructive and forward-looking view: strong revenue growth (12% FY, 14% Q4), expanding product portfolio (Jeuveau, Evolysse), improving operating leverage and a clear path to profitability in 2026 supported by disciplined expense control and substantial liquidity. Key challenges include a soft U.S. procedural market (notably fillers), tariff headwinds on Evolysse, elevated GAAP operating expenses, and near-term competitive sampling from new toxin entrants. On balance the company shows momentum and actionable levers to drive profitable growth while acknowledging and modeling the main market and cost risks.Positive Updates
Top-line Growth — Full Year and Q4
Global net revenue of $297.2M for FY2025, up 12% year-over-year; Q4 2025 revenue $90.3M, up 14% year-over-year, marking the sixth consecutive year of double-digit revenue growth.
Negative Updates
Challenging Aesthetics Market
U.S. injectable procedural volumes declined in 2025 (only the third time in 25 years); company estimates the neurotoxin market declined mid- to upper-single digits in 2025 and expects filler market pressure to continue (guidance assumes low single-digit decline in fillers for 2026).
Read all updates
Q4-2025 Updates
Positive
Negative
Top-line Growth — Full Year and Q4
Global net revenue of $297.2M for FY2025, up 12% year-over-year; Q4 2025 revenue $90.3M, up 14% year-over-year, marking the sixth consecutive year of double-digit revenue growth.
Read all positive updates
Company Guidance
Evolus guided 2026 net revenues of $327–$337 million (up 10–13% vs. 2025’s $297.2M), expects Evolysse and Estyme to contribute 10–12% of 2026 revenue, and projects adjusted gross profit margin of 65.5%–67%; non‑GAAP operating expenses are guided to $210–$216M (a 0%–3% increase vs. 2025’s $209.7M), the company will transition to adjusted EBITDA as its primary profitability metric and expects full‑year 2026 profitability with a low‑ to mid‑single‑digit adjusted EBITDA margin, assuming annual interest expense of $16–$17M, ~68 million diluted weighted average shares, a 15% tariff assumption on Evolysse imports, FDA approval of Evolysse Sculpt in Q4 2026 and Estyme launch in Europe in Q2 2026; longer‑term targets include $450–$500M revenue and 13%–15% adjusted EBITDA margin in 2028.Evolus Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
28
Negative
Cash Flow
32
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 297.18M | 266.27M | 202.09M | 148.62M | 99.67M |
| Gross Profit | 192.76M | 182.30M | 140.53M | 89.77M | 56.14M |
| EBITDA | -28.86M | -25.00M | -41.81M | -53.85M | -39.06M |
| Net Income | -51.64M | -50.42M | -61.69M | -74.41M | -46.81M |
Balance Sheet | |||||
| Total Assets | 225.87M | 232.57M | 189.00M | 177.98M | 257.48M |
| Cash, Cash Equivalents and Short-Term Investments | 53.83M | 86.95M | 62.84M | 53.92M | 146.26M |
| Total Debt | 155.00M | 129.98M | 126.55M | 74.42M | 74.74M |
| Total Liabilities | 248.97M | 227.05M | 209.69M | 159.48M | 175.61M |
| Stockholders Equity | -23.11M | 5.52M | -20.69M | 18.50M | 81.88M |
Cash Flow | |||||
| Free Cash Flow | -45.71M | -19.47M | -35.63M | -87.85M | -34.36M |
| Operating Cash Flow | -42.27M | -18.00M | -34.01M | -84.91M | -33.39M |
| Investing Cash Flow | -8.45M | -4.82M | -1.63M | -2.94M | 4.03M |
| Financing Cash Flow | 17.34M | 47.41M | 44.64M | -4.15M | 73.05M |
Evolus Technical Analysis
Neutral
4.44
Price Trends
4.54
Negative
5.41
Negative
6.42
Negative
Market Momentum
-0.13
Negative
50.25
Neutral
84.18
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EOLS, the sentiment is Neutral. The current price of 4.44 is above the 20-day moving average (MA) of 4.34, below the 50-day MA of 4.54, and below the 200-day MA of 6.42, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 50.25 is Neutral, neither overbought nor oversold. The STOCH value of 84.18 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for EOLS.
Evolus Risk Analysis
Evolus disclosed 53 risk factors in its most recent earnings report. Evolus reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Evolus Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $37.04M | -5.64 | -15.64% | ― | -23.60% | -179.33% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $425.55M | 12.57 | 9.59% | ― | -29.91% | ― | |
49 Neutral | $306.16M | 17.73 | 9.56% | ― | 2.24% | -67.56% | |
48 Neutral | $511.37M | -9.40 | 195.65% | ― | -26.32% | -56.54% | |
47 Neutral | $142.12M | -16.52 | -46.40% | ― | 2.82% | 60.26% | |
45 Neutral | $281.71M | -8.30 | 267.84% | ― | 15.10% | 0.18% |
* Healthcare Sector Average
EOLS
Evolus
4.44
-5.67
-56.08%
EBS
Emergent Biosolutions
8.66
4.04
87.45%
RMTI
Rockwell Med
0.93
-0.10
-10.10%
ORGO
Organogenesis Holdings
2.51
-1.74
-40.94%
AQST
Aquestive Therapeutics
4.15
1.65
66.00%
DERM
Journey Medical Corp
5.26
-0.95
-15.30%
Evolus Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Evolus Secures New Credit Facility and Reports Profitability
Positive
Mar 3, 2026
On March 3, 2026, Evolus secured a new senior secured asset-based revolving credit facility of up to $30 million, with an uncommitted $10 million accordion, maturing in 2029 and secured by substantially all company assets, which adds liquidity but...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.